All Forum Posts by: Joe Maris

Bryant, I know this post is 4 years old, but I'm wondering if I can get a copy of the Excel spreadsheet? Thank you. 

I appreciate your question. It's tough to balance the W-2 job with everything else to get an REI going. Wish I had a solution for you, but I haven't found anything yet. Good luck.

Not sure I can offer much expertise, but it seems the answer to your question is one of time. If you need money now, then immediate cash flow may have more value than long term appreciation, and vice versa. The headlines and experts all seem to indicate the RE market will level off (maybe even decline) in the near future. If correct, appreciation could take longer than in years past. 

 Yes, I believe your assessment of TK companies is spot on. TK companies typically identify and purchase a distressed property. They do the rehab and then sell the "move in ready" property to an investor. Some of them also have their own property management services, or connect the investor with a local property manager. So to your point, the margin between the distressed property value and the rehabbed property appraisal is absorbed by the TK company and not available to the investor. The investor purchases the move in ready property at market value, so in even the best case scenario, there are only a few hundred dollars/month cash flow. Upon purchase, the only equity in the TK property is your down payment. 

No, I have not purchased a TK property yet, but I am in the process of purchasing a new build from a TK company. I have researched several TK companies. Some seem legit, others, not so much. 

You are right that you can tie up much of your investment dollars in down payments trying to develop cash flow. If your investment goal is Cash Flow, then TK appears to reduce your risk substantially. If you're goal is to capture the forced appreciation, then TK is not a good option. 

Good luck with your venture. Feel free to stay in touch. Would be happy to exchange info and ideas. 

I have not hired a coach (yet), but I'm interested in the answers you will get. Ot seems there are more mentors/coaches than there are RE investors. I don't know how you can tell the good ones from the bad. Nobody I've seen is willing to get paid based on results. 

Have you considered turnkey investing? Not sure it's better than hiring a coach, but it appears that much of the risk can be mitigated by investing with a turnkey company. Of course, you still have to figure out which TK companies are good, and which ones to avoid. 

Thanks for sharing. I haven't been investing as long as you, but I have some frost in my hair and learned a lot along the way. I keep seeing people saying you can't invest I this market. I keep saying the margins may be a little slimmer and you need to be sure of your due diligence, bit otherwise, if it cash flows you're good. Congrats on your journey. 

I wish I could help, but I'm not familiar with the Austin area. I just wanted to say how difficult it is to find that tax pro/accountant locally. I have been looking for months in KC. I've asked on BP and Facebook. Picked up a few recommendations, but the people recommended either won't call back or aren't interested in new clients. It seems the advice is always "build your team". The problem is no one can tell you where to connect or recruit team members. I hope you have a better experience. Good luck finding your team members and in your investments. 

 That's s good way to give a referral. I haven't had anyone offer to make an introduction. I assume it will get easier as i work in the area longer and get to know more people involved in the business. it just seems that one of the barriers to entry is finding reputable pros in the various trades needed for real estate investing. Have a good weekend. 

 I can appreciate that. It's nice that someone has worked themselves into a position to be selective in choosing clients. I say congratulations. Nevertheless, that doesn't help me build a team. I'm happy for those individuals, but I'm seeking professionals that are willing to work with me. Anyone who just ignores a potential is unprofessional. It seems the courteous thing to do would be to politely decline the business. 

 Thanks. I'm in the Kansas City market. I've had others make recommendations for professionals that can help, but few of them even reply when I contact them. I'll call, leave messages, send emails, website inquiries, etc. Almost no one will reply, and when they do, it's because I've just kept badgering them. It's weird. I would have thought that these folks would be eager to take on a new client. Anyway, good luck to you.